AUD June

AUD 10th-14th June Fundamental Report

News and economic event analysis disclaimer: This fundamental report is not advice or a recommendation to trade or invest, it is educational and general information only. Don’t blindly buy and sell the markets/products discussed in this article, do your own research and be aware of the risks and rewards.

AUD Main Focus This Week: 

  • Economic Data Type: Employment Change and Unemployment Rate
  • Server Time: 01:30, Thursday
  • Quick view: After the Reserve Bank of Australia lowered interest rates last week, investors are keen to see whether the labor market remains central to the central bank and will influence the next rate decision. Expected reports in May are likely to show an increase.

Quick View: Dovish

  • Reserve Bank of Australia (RBA) lowered its interest rate by 25 basis points to 1.25% as market expectations.
  • The next RBA meeting is July 2, 2019.
  • RBA’s central economic data focuses on GDP, Unemployment and CPI.
  • This is the first interest rate cut in nearly three years due to slower inflation and slowdown in domestic and global economic growth.

Main Economics Data of RBA

  • Australia’s GDP data grew by 2.3% in the fourth quarter of 2018, down from 2.8% in the previous quarter.
  • Australia’s consumer price inflation slowed to 1.3% in the first quarter of 2019 from 1.8% in the previous quarter and below the 1.5% target.
  • The adjusted unemployment rate in Australia rose to 5.2% in April 2019 from a 5.1% increase in the previous month and slightly above the market expectation of 5.1%.

Expected Bias: AUD Bearish

  • The unemployment rate rose to 5.2% from 5.0%.
  • The Chinese manufacturing PMI survey falls below 50.0.
  • RBA lowered interest rates with relatively dovish statements.
  • China’s import data declined.

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